More content

Download Excel Sheet to record purchases and sales
- https: // ...

As of January 5, 2019, the New Online VAT Declaration Form became operational.

With this new form, the taxpayer needs 6 minutes online to file and pay their VAT return, which previously took approximately 30 minutes.

To access the online VAT form, taxpayers must enter the SRI Online transactional portal at with their username and password and, in the General menu, select Online Value Added Tax Form.

To fill out the form, the taxpayer or his accountant must have recorded the values ​​for purchases and sales in the fiscal period, as it is a monthly VAT return, all invoices for the month [MAY] are considered.

If it were the case of a semi-annual declaration, the invoices for the semester [January - June (for example)] should be considered, and the procedure is the same.

The values ​​that are recorded are the subtotals [price of the good or service without VAT], which are marked as such on the invoices, separating those that are taxed with a 12% rate from those that are taxed with a 0% rate.

What products or services have a 0 fee?

- Medicines.
- Unprocessed food.
- Seeds.
- The electric energy.
- Transport.
- Funerals.
- Among others.

This example is for natural persons not obliged to keep accounting, it does not include withholdings, nor returns of ISD for exports.

If there are withholdings, the procedure is similar, it is necessary to add the values ​​for withholdings and place them in box 609 of the tax summary section and classify them by their percentage in the withholdings section.

The total tax caused is shown in box 601 [total VAT on sales]

The tax credit for the period is shown in box 602 [total VAT purchases]

When the VAT on purchases is higher than the VAT on sales, the taxpayer is awarded a tax credit that is cumulative [box 605, shows the tax credit from previous periods] [box 6015, tax credit from previous periods plus the one generated in the period you are declaring].

When the VAT on sales is higher than the VAT on purchases, a value is generated that the taxpayer must pay, the taxpayer can such value by attending an institution authorized by the SRI with the respective receipt, or through online services, if the Taxpayer has accumulated tax credit from previous months will accrue from said value [which happens in this case].

For declarations in zero the values ​​of purchases and sales will be marked at zero, it is important to review the values ​​recommended by the platform [if they exist] and place them in the corresponding box.